Transfer payments lack exchange for goods/services

Steps:

• Define transfer payment as an unrequited transfer of income without corresponding output or exchange.
• Identify the scenario: parents give $50 cheque as gift, no goods/services provided by teenager.
• Note the deposit into savings account moves funds but doesn't change the gift's nature.
• Match to option D, as no output is produced by the recipient.

Why D is correct:

• Transfer payments, per economic definition, involve no productive output from the recipient in exchange for the funds received.

Why the others are wrong:

• A: Cheques are valid payment methods; lack of cash isn't the defining feature.
• B: Bank transfers occur in many transactions, not just transfers without output.
• C: Parents expend resources by giving money, constituting economic spending.

Final answer: D